Revlon to Acquires Elizabeth Arden, Oracle Struggles with Revenue Growth

Mukesh Buch
17 Jun, 2016
New York City

Finisar net jumped 80%. Oracle net rose 2% but revenues fell 1%. Revlon agreed to acquire Elizabeth Arden for $870 million. Smith & Wesson net and revenues surged. Viacom estimated profit in third-quarter to decline 25%.

[R]12:15 PM New York – Finisar net jumped 80%. Oracle net rose 2% but revenues fell 1%. Revlon agreed to acquire Elizabeth Arden for $870 million. Smith & Wesson net and revenues surged. Viacom estimated profit in third-quarter to decline 25%.[/R]

Tollbooth Index dropped 94.67 or 0.9% to 10,428.94.

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Finisar Corporation ((FNSR)) soared 5.8% or $1.02 to $18.60 after the optical cables provider said revenues in the fourth-quarter ending on May 1 slid 0.4% from a year ago to $318.8 million.

Net income in the quarter jumped 79.5% to $13.1 million or 12 cents per diluted share compared to $7.3 million or 7 cents per share from the same quarter last year.

Oracle Corporation ((ORCL)) advanced 2.1% or 82 cents to $39.45 after the enterprise software maker reported total revenues in the fourth-quarter ending in May fell 1% from a year ago to $10.59 billion.

Net income in the quarter rose 2% to $2.81 billion or 66 cents per diluted share compared to $2.76 billion or 62 cents per share from the same quarter last year.

Revlon Inc ((REV)) jumped 2.8% or 88 cents to $32.03 after the beauty and personal care products maker agreed to acquire anti-ageing creams and celebrity fragrances maker Elizabeth Arden, Inc for about $870 million or £609 million.

Elizabeth Arden, Inc stock in pre-market surged 47.4% to $13.72.

Smith & Wesson Holding Corp ((SWHC)) jumped 7.4% or $1.62 to $23.37 after the firearms maker said net sales in the fourth-quarter ending in April soared 22.2% from a year ago to $221.1 million.

Net income in the quarter surged 62.6% to $35.6 million or 63 cents per diluted share compared to $21.9 million or 40 cents per share from the same quarter last year.

The company forecasted diluted earnings per share in the first-quarter in the range of 46 cents to 50 cents.

Viacom Inc ((VIA)) rose 29 cents to $45.34 after the television programs maker estimated profits in the third-quarter ending in June may drop more than 25% or in the range of approximately $1 to $1.05 impacted by the theatrical underperformance of the latest “Teenage Mutant Ninja Turtles” movie and delayed in video-on-demand agreement.

Viacom forecasted domestic ad sales in the quarter to decline by 4%.

Wal-Mart Stores, Inc ((WMT)) fell 18 cents to $71.12 after chief executive officer Doug McMillon at an industry conference in South Africa said the retailer is looking to expand in China and drive the company growth rate through the expansion in international markets.